Intuitive Machines (NASDAQ:LUNR) Shares Down 4.6% – Should You Sell?

Intuitive Machines, Inc. (NASDAQ:LUNR)’s share price was down 4.6% during mid-day trading on Wednesday . The company traded as low as $16.72 and last traded at $17.02. Approximately 9,218,718 shares were traded during mid-day trading, a decline of 32% from the average session volume of 13,493,451 shares. The stock had previously closed at $17.85.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Stifel Nicolaus set a $32.00 target price on shares of Intuitive Machines in a report on Friday, May 15th. Canaccord Genuity Group boosted their price target on Intuitive Machines from $24.00 to $41.00 and gave the company a “buy” rating in a report on Friday, May 15th. B. Riley Financial reissued a “buy” rating on shares of Intuitive Machines in a research note on Wednesday, June 24th. Zacks Research cut Intuitive Machines from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 19th. Finally, KeyCorp lifted their price target on Intuitive Machines from $26.00 to $27.00 and gave the company an “overweight” rating in a report on Wednesday, April 29th. Eight investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, Intuitive Machines has a consensus rating of “Hold” and a consensus target price of $31.50.

Intuitive Machines Price Performance

The company has a market capitalization of $3.69 billion, a PE ratio of -19.34 and a beta of 1.78. The firm has a 50-day simple moving average of $28.46 and a 200 day simple moving average of $22.57.

Intuitive Machines (NASDAQ:LUNR) last released its quarterly earnings results on Thursday, May 14th. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.18). The business had revenue of $186.73 million during the quarter, compared to analysts’ expectations of $202.95 million. Equities research analysts expect that Intuitive Machines, Inc. will post -0.36 EPS for the current fiscal year.

Insider Transactions at Intuitive Machines

In other Intuitive Machines news, Director William John Liquori, Jr. sold 18,321 shares of the firm’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $29.87, for a total transaction of $547,248.27. Following the completion of the transaction, the director directly owned 68,875 shares of the company’s stock, valued at $2,057,296.25. This trade represents a 21.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Stephen J. Altemus sold 13,751 shares of the business’s stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $23.61, for a total value of $324,661.11. Following the completion of the sale, the chief executive officer directly owned 1,162,495 shares of the company’s stock, valued at approximately $27,446,506.95. This represents a 1.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 1,066,527 shares of company stock valued at $29,503,106 in the last three months. 54.10% of the stock is currently owned by company insiders.

Institutional Trading of Intuitive Machines

Institutional investors have recently added to or reduced their stakes in the business. International Assets Investment Management LLC acquired a new stake in Intuitive Machines during the fourth quarter worth about $28,000. State of Wyoming bought a new position in Intuitive Machines in the 1st quarter worth about $39,000. GAMMA Investing LLC increased its stake in shares of Intuitive Machines by 41.5% in the fourth quarter. GAMMA Investing LLC now owns 2,661 shares of the company’s stock valued at $43,000 after purchasing an additional 781 shares during the period. Larson Financial Group LLC raised its holdings in shares of Intuitive Machines by 63.2% during the fourth quarter. Larson Financial Group LLC now owns 2,623 shares of the company’s stock valued at $43,000 after buying an additional 1,016 shares during the last quarter. Finally, CWM LLC raised its holdings in shares of Intuitive Machines by 406.4% during the fourth quarter. CWM LLC now owns 2,912 shares of the company’s stock valued at $47,000 after buying an additional 2,337 shares during the last quarter. Institutional investors own 72.21% of the company’s stock.

About Intuitive Machines

Intuitive Machines is a Houston, Texas–based aerospace company specializing in commercial lunar exploration and services. The firm develops end-to-end solutions for robotic missions to the Moon, providing spacecraft design, mission management, navigation, communications, and data services under NASA’s Commercial Lunar Payload Services (CLPS) program.

Founded in 2013 by aerospace engineers Steve Altemus, Tim Crain and Kris Kimel, Intuitive Machines has grown from a small startup into one of the leading private entities pursuing lunar surface deliveries.